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Glossary

Glossary

Throughout this site acronyms may be used as abbreviations for organization names, titles, inter-governmental bodies and initiatives, business methodologies etc. This page offers some definitions which you may find helpful:

KPMG established the Audit Committee Institute (ACI) to help audit committee members keep pace with business issues relating to governance, audit, accounting and financial reporting. Since its inception in 1999, KPMG member firms have launched ACIs in 20 countries.

AMA

Advanced measurement approach

AML

Anti-money laundering

Audit related services

Services designed to help clients address specific issues which may relate to major regulatory or reporting changes or to the need for special skills on accounting matters.

BRIC

Brazil, Russia, India and China

CAS

Capital Adequacy Standard

CEE

Central and Eastern Europe

ELV

End of Life Vehicles Directive. EU legislation.

EMA

Europe, Middle East and Africa region

ENR

Energy & Natural Resources. The ENR sector includes oil and gas, power and utilities, mining and forestry industries.

Enterprise 2.0

Enterprise social software (E2.0). The use of an entire suite of emergent technologies — wikis, blogs, tagging, and social networking tools — both inside companies and between companies and the outside world.

ERM

Enterprise Risk Management frameworks

Estate agent/realtor

U.K. usage: estate agent; US usage: realtor. Professionals dealing with the valuation and sale of property.

EU-ETS

EU Emissions Trading Scheme. Launched in January 2005 with mandatory GHG (green house gas) emission controls for industrial activities from 1 January 2005. Currently focusing on activities including the production and the manufacture of ferrous metals, pulp and paper, the scope of the scheme is expected to be widened to include other GHG emissions and industrial activities from January 2008.

The Masterclass training program is a cooperative approach to learning. Built around case study workgroups, over the course of two days, the workgroups and the client work together discussing client issues, brainstorming possible solutions, and cultivating a client/KPMG network.

KPMG Financial Services Global Client Program

Through the Global Client Program Financial Services coordinates global service delivery, to clients aligning their line of business, functions and regional needs.

KPMG IFRG

KPMG International Financial Reporting Group. A single independent unit based in the U.K. providing international financial reporting services.

MNOs

Mobile network operators

OECD

Organisation for Economic Co-operation and Development

OEMs

Original equipment manufacturer(s)

PFIs

Private finance initiatives

PPPs

Public private partnership

Prospective reporting

Where permitted, assisting clients with the preparation, due diligence or attestation required as part of a process to obtain financing.

REACH

Registration, Evaluation and Authorization of Chemicals. European Union (EU) directive which came into effect on June 1, 2007 and requires chemical manufacturers and importers in the EU to prove the safety of their products.

Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.